Meridian Bioscience (NASDAQ:VIVO) Announces Quarterly Earnings Results

Meridian Bioscience (NASDAQ:VIVO) posted its earnings results on Thursday. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.04, Briefing.com reports. Meridian Bioscience had a net margin of 12.65% and a return on equity of 17.82%. The business had revenue of $50.80 million for the quarter, compared to analysts’ expectations of $50.57 million. During the same period in the prior year, the company posted $0.20 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Meridian Bioscience updated its FY20 guidance to $0.28-0.34 EPS.

Shares of Meridian Bioscience stock traded down $0.35 on Friday, hitting $7.90. 470,900 shares of the company traded hands, compared to its average volume of 341,224. The firm’s 50-day simple moving average is $9.64 and its 200 day simple moving average is $10.75. The company has a current ratio of 6.93, a quick ratio of 4.75 and a debt-to-equity ratio of 0.40. The company has a market cap of $431.39 million, a P/E ratio of 10.68 and a beta of 0.37. Meridian Bioscience has a 12-month low of $7.62 and a 12-month high of $19.84.

Several analysts have issued reports on the stock. BidaskClub upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Canaccord Genuity reiterated a “sell” rating and issued a $9.00 target price on shares of Meridian Bioscience in a research note on Wednesday, July 31st. ValuEngine upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research cut shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Meridian Bioscience presently has an average rating of “Hold” and a consensus price target of $11.25.

Meridian Bioscience Company Profile

Meridian Bioscience, Inc, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for various gastrointestinal and respiratory infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments.

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Earnings History for Meridian Bioscience (NASDAQ:VIVO)

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